Acquisition

27 February 2015

Intelligent Energy Holdings plc

Intelligent Energy ("IE"), the energy technology company, is delighted to announce the acquisition of the portable fuel cell and disposable fuel cartridge assets of Société Bic (S.A.) ('BIC').

Summary of the acquisition

This strategically important acquisition is a significant step forward in the successful execution of Intelligent Energy's corporate plan with regard to the embedding of its technology in portable consumer electronic devices. This acquisition:

· materially enhances IE's current extensive portfolio of IP relating to fuel cells and disposable

fuel cartridges;

· provides IE with incremental, synergistic and valuable, high volume manufacturing and production

IP, together with pilot production line technologies relating to both disposable fuel cartridges and

planar fuel cells that can be used alongside IE's best in class fuel cell technology;

· reduces both the time and the cost of developing production ready, embedded fuel cells and fuel

cell cartridges;

· provides additional, important knowledge and understanding of consumer markets; and

· strengthens the move to a business model based on the licensing of IE's fuel cell and fuel cartridge

to industrial partners.

IE welcomes BIC's support in facilitating a seamless transfer of assets and IP and looks forward to working with BIC through the earn-out agreement to leverage off BICs undoubted competence in high volume manufacturing, supply chain management and mass market distribution.

Financial details of the acquisition

IE is acquiring the totality of BIC's fuel cell and disposable cartridge technology for a cash consideration of $13m at closing and $2m in an escrow account at closing to be paid once the transition services are complete. There is also up to $7m cash consideration under an earn out arrangement.

Intelligent Energy's CEO, Dr Henri Winand commented:

"This is an exciting and very important step forward for IE, as we work towards embedding our world class hydrogen fuel cell technology in portable consumer electronic devices. We have been in dialogue with BIC for a number of years about working together, and this transaction is very exciting for both of us.

This acquisition brings an extensive portfolio of IP and know-how which complements our own development programme, and helps us further leverage the significant IP package jointly acquired with our international consumer electronics partner in 2013. It also brings proven manufacturing technology which is a critical element to the development of the market for embedded fuel cells."

Enquiries:

Intelligent Energy Holdings plc +44 (0)1509 271271

Dr. Henri Winand Chief Executive Officer

John Maguire Chief Financial Officer

Dr. Mark Lawson-Statham Director of Corporate Finance

Tulchan Communications +44 (0)207 353 4200

James Macey White

Victoria Huxster

[email protected] 

About Intelligent Energy

Intelligent Energy Holdings plc is an energy technology group which develops efficient and clean hydrogen fuel cell power systems for the global automotive, consumer electronics, distributed power and generation markets - from powering zero-emission vehicles to compact energy packs for mobile devices and stationary power units for the always-on infrastructure.

Working with international companies, Intelligent Energy aims to embed its technology in mass market applications to solve the challenges of continuous power and productivity, by creating everyday energy solutions to power people's lives. The Group's intellectual property and expertise is based around proprietary fuel cell technologies, which are the product of over 25 years of research and development. Its patent portfolio includes more than 400 patents granted (and over 600 patents pending) across more than 300 patent families. The Group also maintains a significant body of confidential know-how and trade secrets.

With its principal facility and headquarters in Loughborough, UK, the Company also has operations in India, Japan and Singapore, a commercial office in Silicon Valley, USA, and research facilities in Florida, USA. Intelligent Energy Holdings plc is listed on the London Stock Exchange (IEH: LN).

More information on Intelligent Energy is available at WordPress, Twitter, YouTube and LinkedIn. Or visit the Intelligent Energy website.

About BIC

BIC is a world leader in stationery, lighters, shavers and promotional products. For more than 60 years, BIC has honored the tradition of providing high-quality, affordable products to consumers everywhere. Through this unwavering dedication, BIC has become one of the most recognized brands in the world. BIC products are sold in more than 160 countries around the world. In 2014, BIC recorded Net Sales of 1,979.1 million euros. The Company is listed on "Euronext Paris" and is part of the SBF120 and CAC Mid 60 indexes. BIC is also part of the following SRI indexes: FTSE4Good Europe, Euronext Vigeo Europe 120, Ethibel Excellence Investment Register, Gaia Index and Stoxx Global ESG Leaders Index.